A logistics joint venture between Ontario Teachers’ Pension Plan and Boreal IM has completed two investments in Germany totaling 64,000 square meters (689,000 square feet).
The transactions now bring the portfolio’s footprint in the German market to 107,000 square meters (1.15 million square feet) and follow an acquisition in Hammersbach last year.
The first acquisition is a 37,000-square-meter (398,000-square-foot) contemporary warehouse in Bochum from Tritax Eurobox plc, which reflects the joint venture’s strategy of acquiring high-quality properties with reversionary potential in severely supply-constrained submarkets. The asset is modern, built to high specifications and perfect for urban distribution. The joint venture will also seek to enhance the green credentials of the asset, which already has DGNB Gold certification since its completion in 2018.
The joint venture has also entered into a forward-funding arrangement with Panattoni Germany, which p
